Vancouver-based solution provider Versatile Systems has a new president. Last week the company announced the departure of Robert Joyce from all director and officer positions, and the appointment of Kenneth Kahn as the company’s new president.
Based in Vancouver with several offices across the U.S. and one in London, UK, Versatile Systems provides solutions around sales, marketing and product distribution, as well as the implementation, maintenance and security of mission-critical computer environments.
Before his appointment as Versatile’s president, Kahn was executive vice-president and global brand officer for Mood Media. He has also been appointed president of all Versatile subsidiary companies.
“Bob’s vision led to an enhanced strategic focus on the companies IP based products, which has provided the foundation for future growth,” said John Hardy, CEO of Versatile, in a statement. “While Bob has elected to leave the business to pursue new interests, I am very pleased that he will continue to actively assist Versatile. I would like to thank Bob for his many years of service and commitment to the company.”
Joyce’s departure and Kahn’s appointment come after the release of disappointing third quarter results by Versatile in late May, including a net loss of $780,888 for the quarter after earnings of $35,603 in the same quarter a year ago.
“The company has incurred significant losses, the continuation of which is unacceptable,” said Versatile in a statement. “The company is currently exploring all strategic alternatives to deal with the losses.
Following his appointment, Kahn said in a statement he’s committed to turning the operations around.
“I am deeply committed to enhancing Versatile’s operations and focusing the organization on key growth initiatives,” said Kahn. “I intend to direct Versatile on a path to a profitable, growing company that delivers on its promise of turning data into knowledge, anytime, anywhere.”